The world after the coming recession

Global Risk Watch Vol.29 August 2017

Risk intelligence e-Newsletter provides an overview of various corporate management risks from a global perspective featuring key events that occurred over the past month and need to be carefully examined for risk management purposes. The Center for Risk Management Strategy (CRMS) as part of the global Deloitte Tohmatsu Group provides you with experienced analysis on risk management and financial regulation.

Overview Macroeconomic and Financial Risks

# The world after the coming recession
Tsuyoshi Oyama, Partner/Head of Center for Risk Management Strategy(CRMS) at Deloitte Touche Tohmatsu LLC/Deloitte Asia Pacific Risk and Capital Management Leader 

Developed countries, especially Europe and Japan, continue its strong growth streak.
On the other hand, there is no sign yet that indicates the rise in prices and wages will accelerate in the United States and Japan.
Against this backdrop, long-term interest rates that showed signs of temporary rise in July have now returned to its original low levels.

*Please download the full article


(PDF, 193KB)

Overview of Development in Financial Regulations

# The Trump administration proceeds with financial regulatory reform
Shiro Katsufuji, Director, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC

The Trump administration is determinedly advancing the financial regulatory reform.
As directed by the executive order in February, the U.S. Department of the Treasury issued a report “A Financial System That Creates Economic Opportunities ? Banks and Credit Unions” in June, which provides in-depth recommendations for financial regulatory revision.

*Please download the full article


(PDF, 189KB)

Highlight of Indicator for this Month

# Long rain to cool down the overheating economy?
Toshikazu Kumagai, Senior Staff, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC 

The recent rise in vegetable prices has become a hot topic due to the unforeseen weather conditions we have seen these days.
The surge in grocery prices is expected to bring down household consumption by forcing the amount of expenditure for non-food items to be controlled.

*Please download the full article


(PDF, 454KB)

Seminars, Conference & Publication

【Outside Lectures & Conference】

# Deloitte Tohmatsu Finance Seminar (August 9, 2017 / Osaka) *Only available in Japanese 
Senior Tsuyoshi Oyama (Partner / Head of CRMS) presented “Risk Appetite Framework (RAF) reflecting global economy and financial regulation - for forward-looking operation management” at “Deloitte Tohmatsu Finance Seminar: Implementation of RAF reflecting global economy and financial regulation, and its utilization for client-centric operation management.”

# The Institute of Financial Risk management and Audit (July 13, 2017 / Tokyo) 
Senior members of Center for Risk Management Strategy (CRMS) of Deloitte Touche Tohmatsu LLC presented at “Special Seminar: Macro environment evaluation from risk appetite perspective, and development of risk appetite framework in different industries.”

Tsuyoshi Oayama (Partner / Head of CRMS, Deloitte Touche Tohmatsu LLC)
“Trends in global economy and financial regulation, and risk appetite”

Hideyuki Goto (Director, CRMS, Deloitte Touche Tohmatsu LLC)
“Recent trends in insurance industry and their linkage with risk appetite framework”

# Regional Banks Association of Japan (July 18, 2017 / Tokyo) 
Tsuyoshi Oyama presented “Risk appetite perspective effective for market/securities departments” at “Securities investment research seminar: portfolio strategy course.”


【Article Contribution & Other Activities】

# Seminar Info Co., Ltd. “Financial Regulation” magazine, September issue (to be published on September 11, 2017)
Shigeyuki Goto contributed an article “Rising interests in individual behavior and culture along with expectation for ERM effectiveness” in the “Regulation Frontline” section.

# Deloitte Touche Tohmatsu Monthly Magazine “Accounting Information” (September 2017 issue) *Only available in Japanese
Tsuyoshi Oyama contributed an article, “2017 Global Economy Outlook ? Major economies’ central banks on the move,” on possible phenomena in global economy and finance from a risk management perspective.

# Deloitte CFO Signals Japan : 2017 Q2 - How CFOs/CFO organizations engage with cloud computing and AI *Only available in Japanese
Deloitte has conducted the 8th regular survey on CFOs in Japan.
This survey analyzes the change in awareness of CFOs in a chronological order and the latest outlook in the “survey items on the economic environment” section.
It also investigates the awareness on risk scenarios of Japan and major countries from a macroeconomic perspective.
This issue’s hot topics include how CFOs/CFO organizations engage with cloud computing and AI (survey period: July 3 to 14, 2017).
CRMS has contributed to the observation and analysis part of the survey.

# Hokenmainichi Shimbun Co. Ltd. “Insurance ERM Basics” (published on April 7, 2017) *Only available in Japanese
Shigeyuki Goto (Director, CRMS) has published “Insurance ERM Basics” from Hokenmainichi Shimbun Co. Ltd.

# ”Brexit Impact from a Macroeconomic Perspective ” available online *Only available in Japanese
CRMS provides timely information on the impact and key aspects of Brexit from a macroeconomic perspective on the special website of the Deloitte Tohmatsu Group.

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